IMF raises Saudi Arabia's growth prospects over higher oil prices
IMF raises Saudi Arabia's growth prospects over higher oil prices
Christine Lagarde speaks to NDTV on the state of Indian economy in an exclusive interview
22 January, 2018, 19:51
Global growth forecasts for 2018 and 2019 have been revised upward by 0.2 percentage point to 3.9 percent.
"Financial conditions are quite easy, with booming equity markets, low long-term government borrowing costs, compressed corporate spreads, and attractive borrowing terms for emerging market and developing economies", he said.
But it will be short-lived and "will also likely widen the USA current account deficit, strengthen the dollar, and affect worldwide investment flows", he added.
"The global financial crisis may seem firmly behind us, but without prompt action to address structural growth impediments, enhance the inclusiveness of growth, and build policy buffers and resilience, the next downturn will come sooner and be harder to fight", Mr Obstfeld said.
However, it cut its forecast for Spain's growth for 2018 by 0.1 percentage point, saying political uncertainty linked to the Catalonia region's independence push was expected to impact business confidence and demand.
The International Monetary Fund raised its estimate for economic growth in Canada this year as it said US tax cuts are expected to help boost global economic growth.
The 19 countries that use the euro currency collectively grew 2.4 percent in 2017, best since 2007, and will grow 2.2 percent this year, the International Monetary Fund said. The IMF now expects it to expand by 2.7% in 2018, much higher than the 2.3% the fund forecast in October.
It also said that economic activity in Europe and Asia was surprisingly stronger than expected past year, and global growth in 2017 was now estimated to have reached 3.7 percent, 0.1 percentage point higher than the Fund projected in October.
Two cane bombs of 10 kg each found in Bodh Gaya
It may be recalled that in 2013, Bodhgaya had been rocked by a series of explosions in which five persons were injured. Khan also said the bombs have been secured at a "secluded spot" where they will be defused by a bomb disposal squad.
The stronger outlook was attributed to the stronger momentum in domestic demand and higher external demand.
Advanced economies are seeing solid simultaneous growth, and the United States tax reform passed just before Christmas will have a measurable effect, at least for a couple of years. Next year, growth is seen edging up to 2.5% versus 1.9% predicted in October.
Japan saw a rare and large upgrade of five-tenths for this year to 1.2 percent.
This growth percentage will make India among the fastest growing country among emerging economies.
China, which is 2017's growth champion with a growth rate of 6.8 percent, is expected to slow down to 6.6 percent in this year and 6.4 percent next year, according to the Update.
The lender noted that the upward revisions to the global outlook arises primarily from advanced economies, where growth is now expected to exceed 2% in 2018 and 2019.
Early this month, a top International Monetary Fund official said that India is reclaiming its place as a growth leader.
In Latin America, it said growth would be weighed down by an economic collapse in Venezuela despite a pick-up in economic activity in Brazil and Mexico.
Delivering his speech before the crowd in flowing white African robes, he promised to deliver on the key promises of his campaign. Liberia's new president, George Weah , took the oath of office on January 22, 2018 with a vow to discharge his duties faithfully.
During the latest developer update video for We Happy Few , we were able to catch a glimpse of a second playable character, Sally. The big changes are in the first few hours of the game, focusing on the narrative elements of one of the main characters, Arthur.
But the upshot, said the agency, is likely to be a sizeable pick-up in non-OPEC production. "And we are going to work together". Hydraulic fracking in the nation's shale oil reserves have caused a 10 percent increase in oil production since September.
Amazon now dominates the market, however, with its ownership of Audible, but it appears Google is about to make a big push back. Fans will be hoping that a dedicated section of the audiobooks would provide them with more options and variety to choose from.
Bayern Munich midfielder Arturo Vidal has ruled out a January exit amid reports that Chelsea are interested in signing him. Muller, whose 100th league goal came in his 272nd appearance, said of his landmark: "It's always nice to score".
Asked about the potential swap deal, Gunners boss Arsene Wenger said: It happens only one way, if the other way happens as well. So close, so close, so close, if it doesn't happen it's not going to happen. "Raheem can play there".
The Soviet film legend felt that editing involved the audience more than the passive reception of information from lengthy shots. Today's doodle marks a tribute to his pioneering technique, and is inspired by iconic imagery in some of Eisenstein's films.
It's also quite possible that Nokia might incorporate the rotating lens technology, for which a patent has already been filed. HMD Global could also unveil the Nokia 1, an entry-level smartphone running Android 8.0 Oreo Go Edition.
Tax evasion, erosion of workers' rights and automation are responsible for the world's economic inequality, according to Oxfam . Women are in the worst work, and nearly all the super-rich are men.
Thoughts On Trump's Use Of The 'S' Word
Mr Trump announced past year that he will end the Obama-era DACA program unless legislators come up with a solution by March. Trump is considered overweight and borderline obese at 6 feet 3 inches (1.9 meters) tall and 239 pounds (108 kg).
Apple's always-listening HomePod mics can be muted
First announced in June, the Apple HomePod is likely to launch in the coming days after a long delay . The smart speaker has been certified by the United States Federal Communications Commission ( FCC ).
Mnangagwa Pins Economic Revival Hopes On Davos
Theresa May and Donald Trump will meet for talks at the World Economic Forum in Davos next week, Downing Street has announced. Government said it was pining its economic revival hopes on the worldwide economic forum starting tomorrow in Switzerland.
NFC Championship: Foles, Eagles roll past Vikings
The Eagles didn't just lose Wentz, but nine-time Pro Bowl left tackle Jason Peters, and playmaking middle linebacker Jordan Hicks. It all made for a long night two weeks before Minneapolis hosts the Super Bowl that the Eagles and Patriots now have reached.
First teaser trailer for Paterno starring Al Pacino
Pacino, who said Paterno "was as close to a savant as I'd ever played", also said he felt it was a complicated situation. Directed by Barry Levinson ( Rain Man ), Paterno features a script from Debora Cahn ( Vinyl, Grey's Anatomy ), John C.
Wanda Sykes Says Netflix Offered Her Less Than Mo'Nique
In the video , Mo'Nique explained that the company reached out to her about doing a comedy special, offering her a $500,000 deal. She said on Instagram that she was offered a cool half million to tape a special for Netflix .
Dixons Carphone plc - Appointment of new Group CEO
His departure from Dixons Carphone is not entirely unexpected given that he has been with the business for a decade. He will succeed Sebastian James who is leaving after six years in the role to join Walgreens Boots Alliance.
Nike's PG2 light-up sneakers are for PlayStation fanatics
When he wasn't on the pitch scoring hat tricks, he could be found near his SNES or around the house, taking things apart. The new PlayStation shoes will cost around $110 from Nike , who are now listing them for launch around February 10, 2018.
Opec ties to oil allies will stretch through 2019
Nonetheless, he did not expect the 14-member cartel to end its deal with 10 other allied producers in June. OPEC's fear that another surge of shale oil could neutralize its production cuts might be coming true.
Canada, US Co-Host Summit on North Korea
Ruggiero said a key to reining in the North Korea threat is identifying the revenue flows that are financing the weapons buildup. The meeting was attended by global affairs ministers from 20 nations.
Jalen Ramsey may cover Rob Gronkowski after all
It's not unprecedented for teams to move a cornerback out to cover him when he does line up wide, especially in the red zone. Gronkowski was initially ruled questionable to return before later being downgraded to out.
Pence begins Middle East trip in Egypt tackling terrorism
The decision, though, has infuriated the Palestinians, with whom Pence is not meeting, and upset America's Arab allies as well. Agency for International Development. "We'll get this thing figured out in Washington", Pence said, following one group photo.